By Joy Gendusa
Founder and CEO
Take a Staged Approach to Refinance Marketing
Generate leads and close loans by mixing direct-mail and e-mail campaigns
The Federal reserve has prom- ised to keep interest rates low through summer 2013. The effects of this announcement will be felt
throughout the economy, but nowhere
more so than in the mortgage industry.
as mortgage brokers work to convince homeowners that now is the time
to refinance, there are a few proven
marketing techniques they can use to
ensure their voices are heard. By using
a combination of these three stages of
marketing, originators can maintain a
steady flow of refinance leads.
Stage 1: Direct-mail postcards
It’s the “direct” part of direct mail that
makes it effective. Going straight to
prospects with your message is vital because many people do not understand the mortgage industry —
and misunderstanding translates to
With postcards, you can bring
your message straight to prospects.
according to the 2010 Direct Marketing
association Statistical Fact Book, 79
percent of households read or skim
direct-mail advertising. and with post-
cards, the effect is doubled because
there is nothing (e.g., an envelope) be-
tween prospects and your message.
Stage 2: Direct-mail letters
a direct-mail letter is an excellent way
to reach prospects who may be on the
fence or who are not even considering
refinancing. Letters work in these cases
because originators can go into more
detail. This helps dispel the confusion
and mistrust prospects feel when confronted with advertising.
To maximize the effectiveness of di-
rect mail, use a combination of post-
cards and letters. The people who
respond to postcards can be removed
from the list, and those who do not re-
spond get a follow-up letter explaining
why this is a great time to refinance.
Stage 3: E-mail follow-ups
In this crucial stage, originators can
turn leads into loan closures.
Once prospects call in, you know
they’re interested. a refinance is a big
decision, however, and some customers
may not be ready to make it right away.
E-mail follow-up is vital. E-mail gives you
the ability to keep in contact with hundreds, even thousands, of leads.
Originators can greatly improve clo-
sure rates by using an auto-responder to
send automatic e-mails to leads over a
specific period of time. For instance, say
you talk to someone on the phone, but
they decide not to proceed with the refi-
nance right now. add them to your e-mail
campaign, and they will receive a set of
e-mails explaining why they should not
miss this opportunity to refinance. This
will likely produce a second call.
Joy Gendusa is the founder and CEO of direct-mail marketing firm PostcardMania.
The company, started in 1998, offers full-service postcard marketing, website design and
development, e-mail marketing, and results
evaluations. In 2010, PostcardMania reached
more than $19 million in annual revenue.
The company now employs more than 190
people and has more than 45,000 customers
in more than 350 industries. reach Gendusa
at joy.Gendusa@postcardmania.com or
By Drew Waterhouse
Rise to the Top of the Hiring Pool
Make sure you are the total package mortgage companies want
Like in many industries, an outgo- ing personality, computer skills, empathy and being a good
listener are prized characteristics in
mortgage professionals. The mortgage
industry, like much of american business, has had to endure a reality check
that makes being a good producer simply not good enough. If you’re considering moving to a new company this year,
you must be the total package to be
considered by the best employers.
But what is the total package? What
are leading mortgage companies looking for in originators? Here are four
attributes top companies look for in
1. referral-based business: Candidates
must have a reliable and relation-
ship-based source of business that
is not dependent on employer-pro-
vided leads. Candidates with es-
tablished referral sources provid-
ing a consistent volume of loans for
two years or longer will be in par-
ticular demand because lenders are
seeking what amounts to a merger
of their successful business models
with the successful and proven book
of business of mortgage originators.
Lenders may not be willing to hire
originators who are still building a
business. It is too expensive, given
the extra processing and compliance
requirements, and the margins are
too thin to work with anyone who
doesn’t bring a consistent stream of
business to the relationship.
Drew Waterhouse is managing director at
Hammerhouse LLC, a national recruiting and
strategic-growth company for the financial-services industry with mortgage sales and leadership placement at its core. Waterhouse has 15
years of experience in mortgage headhunting
and supporting strategic growth initiatives. He
has led teams at a publically traded mortgage
bank and a national depository with a focus on
building production, leadership teams and value
platforms. reach him at drew.waterhouse@
teamhammerhouse.com. For information on
Hammerhouse, visit teamhammerhouse.com.